Millennials: Why Auto Dealers should sell to them

OVERVIEW

Millennials can be fiercely loyal brand ambassadors—if they care enough about a brand. But how do auto dealers capture the loyalty of a generation who is apparently more interested in access than ownership? Since US Millennials alone represent billions in annual purchasing power, dealers should evolve their approach. And a digitally supercharged sales process can help.

KEY FINDINGS

Millennials certainly favor online shopping: Fifty-seven percent would buy cars online because of the convenience and one-stop shopping aspects. But most also still seek a rewarding in-person experience at the dealership—as long as it integrates with their online lives. Car dealers looking to deliver authentic, high quality experiences that recognize millennials’ desire for personalization, convenience and control need to:

DIGITIZE THE DEALERSHIP

By equipping sales associates with the
digital tools to co-navigate and complete
the sales process transparently and fast

WHAT NEXT?

Accenture has identified three steps that auto dealers should take to capture the loyalty of millennials.

Bridge the gap between online and physical experiencesProvide smart phone apps that enable millennials to see full-scale virtual versions of vehicles that interest them, and using augmented reality, save their preferences and send them to local dealerships in advance of their visit.

Provide in-dealership “product geniuses”Armed with collaborative digital tools during the visit, and equipped with millennials’ “customer genomes” before they visit, sales associates could offer the product knowledge and efficiency that millennials seek.

Build long-term relationshipsSponsor events with specific appeal to millennials and offer primary vehicle ownership with access to other options: a brand a month for the price of a lease, say, or the chance to swap your hatchback for an SUV or coupe on the weekend for a nominal fee.

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